The High Cost of Workplace Knowledge

How much time do we really spend looking for information at work and what is it costing?

Image source: Adobe Stock

These days, the pace of nearly everything is accelerating and isn’t showing any signs of slowing down. This is certainly true when it comes to knowledge. Not only is the overall volume of knowledge doubling every two years, but it’s also constantly increasing in complexity, making it more and more difficult for people to keep up. Indeed, without computers, the Internet, smartphones, and other devices, most of us would be entirely lost.

At work, however, this challenge is compounded by the fact that the same technology advances that make so many of our personal and consumer knowledge experiences easier have barely reached the workplace. Thus, in the workplace, the ever-increasing amount of knowledge only seems to make things worse. Thanks to a multitude of hard-to-search files scattered across multiple legacy systems, content silos, and drives, answering a simple question or finding a piece of information can often take hours.

What is 10-minutes a day costing your company?

“The real question,” said Dipanwita Das, CEO and Founder of Sorcero, “is how much time is spent digging for information and answers at work, and, more importantly, what is it costing?”

According to Accenture, as much as 54% of a manager’s time is spent on “coordination and control.” Other estimates suggest that employees spend anywhere from 15 to 35% of their time “looking for information to do their jobs.” How exactly you define “looking” can include anything from locating internal documents and searching internal systems to searching the web, doing online training, or even asking your colleagues questions.

“No matter how you define ‘looking for information,’ one thing is certain,” said Das, “time is money.” To help illustrate the point, Sorcero has created a handy cost of knowledge calculator that lets users decide for themselves how much time they and their colleagues spend looking for information and calculate the cost. “The shocking part,” she said, “is seeing just how quickly 10 to 20 minutes per day (much less 120 minutes per day) adds up across a company.”

According to Das, emerging cognitive technology companies like Sorcero hold the key to alleviating many of the difficulties associated with finding and sharing workplace knowledge, including greatly reducing the amount of time and money wasted looking for information and answers.

Knowledge for the Speed of Business

“Sorcero, does much more than help companies stop wasting time and money,” said Das. “We’re completely rethinking workplace knowledge and learning, enabling people to do remarkable things.” She added, “whether that means helping new employees get up to speed faster, providing field support to a sales team or helping a regulatory team keep up with changing laws and guidelines, Sorcero leverages the power of knowledge to create real competitive advantage.”

Developed by MIT Media Lab veterans, Sorcero is a cognitive technology company that augments human knowledge and performance, helping companies build a smarter more productive workforce.

Unlike machine learning and other types of AI, Sorcero blends natural language interface with a proprietary algorithm and expert oversight to create a uniquely transparent way to provide accurate, contextual answers within virtually any knowledge workflow.

To learn how Sorcero, can help you reduce the cost knowledge for your organization, please request a demo, contact info@sorcero.com, or visit us online at www.sorcero.com.

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Downright Brainy (About Sorcero)

We’ve reimagined knowledge and learning to help people do remarkable things. Driven by AI, Sorcero is designed specifically for people who want to be nothing short of exceptional. Developed by MIT Media Lab veterans, Sorcero is turning search, chatbots, and virtual assistants on their heads. Uniquely transparent, Sorcero supercharges performance with frictionless access to contextual answers, knowledge, and learning—making people smarter and more productive. Instantly.

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